3*.[2.5 Points] A trader sells 100 European put options (1.e., one contract) with a strike price of 20 ie, X = $20 and a time to maturity of three months. The cost of each option is $3 (ie. Po = $3). The price of the (= $ ) underlying asset proves to be $15 in three months i.e., St = $3 = $15. Assume 4% continuous compounding rate. a) Calculate the dollar amount of the trader's gain or loss (indicate whether it is a gain or a loss)? (2 points). b) Show the fully labeled graph (1/2 point) Facts: Graph: Calculations: 3*.[2.5 Points] A trader sells 100 European put options (1.e., one contract) with a strike price of 20 ie, X = $20 and a time to maturity of three months. The cost of each option is $3 (ie. Po = $3). The price of the (= $ ) underlying asset proves to be $15 in three months i.e., St = $3 = $15. Assume 4% continuous compounding rate. a) Calculate the dollar amount of the trader's gain or loss (indicate whether it is a gain or a loss)? (2 points). b) Show the fully labeled graph (1/2 point) Facts: Graph: Calculations